Bloomberg
A rejected takeover bid that valued Nordstrom Inc. at about $8.4
billion is pitting the department-store chain’s board against its top
executives.
After the company’s founding family put
together an offer of about $50 a share in cash, Nordstrom’s independent
directors spurned the deal
on Monday, saying the price was too low. The board members, who formed a
special committee to evaluate a possible transaction, warned the
would-be buyers to quickly increase their offer or move on.. . .
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